Financial Crime World

Cyber Fraud Epidemic in India: How to Protect Yourself and What to Do When Scammed

The Growing Threat of Cyber Fraud in India

Mumbai, India - As the digital landscape continues to expand, so does the threat of cyber fraud. A recent survey revealed that approximately 57% of all fraud incidents in India occur on digital platforms, with tech support scams being a particularly pervasive issue.

According to the Director General of Police (DGP) of Uttarakhand Ashok Kumar, vigilance and caution are crucial in safeguarding personal and financial information from evolving digital threats. “It’s essential to remain cautious and skeptical when dealing with financial matters,” he warned.

How to Protect Yourself

To protect yourself from financial scams, experts recommend the following steps:

  • Educate yourself: Stay informed about common scams and fraud tactics.
  • Verify identities: Be cautious when sharing personal or financial information.
  • Use strong passwords: Create unique and complex passwords for online accounts.
  • Enable two-factor authentication (2FA): Add an extra layer of security to your online accounts.
  • Be cautious with emails: Be skeptical of unsolicited emails, especially those that ask for sensitive information.
  • Beware of phone calls: Do not provide sensitive information to callers who claim to be from banks or government agencies.
  • Protect your devices: Keep your computer, smartphone, and other devices updated with the latest security patches and antivirus software.
  • Secure Wi-Fi connections: Avoid conducting sensitive financial transactions on public Wi-Fi networks.

What to Do When Stuck in a Fraud

If you suspect that you’ve fallen victim to a cyber fraud, experts recommend taking immediate action:

  • Contact your bank: Notify your bank’s customer service immediately and report the incident.
  • Lodge a complaint with NCRP (National Cyber Crime Reporting Portal): File a detailed complaint on the portal, providing as much information as possible about the cyber fraud.
  • Contact Cyber Thana or local police station: Report the cyber fraud to the local police and file a First Information Report (FIR).
  • Provide documentation: Gather evidence related to the fraud, including transaction records, emails, and messages.
  • Monitor your accounts: Keep a close eye on your bank and other financial accounts for any unusual activity.

By following these steps, individuals can take proactive measures to protect themselves from financial scams in India and what to do when scammed.